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Apple's iOS 6 Moves Shares of Partner Companies (OPEN, FB, YELP)

Earlier, Apple (NASDAQ:
AAPL
) unveiled the next iteration of its mobile OS--iOS 6. The OS
will ship later this fall.

While this announcement may portend the next model in Apple's
iPhone lineup, for traders, the more interesting news may have
been the effects that the new iOS had on stocks. Shares of Apple
have traded about flat on the session, but several of Apple's
announced partners have benefited from the deal with the tech
giant.

Shares of OpenTable (NASDAQ:
OPEN
) spiked sharply higher after Apple announced that the next
version of Siri will be incorporate OpenTable's reservation
service into its software. OpenTable spiked to near $45 before
quickly correcting. As OpenTable has a particularly high short
interest, the shift may have been driven by shorts covering.

Still, analysts at Benchmark think the move was justified.
Benchmark's James Dobson told Benzinga, "We view the Apple
partnership as another sign of OpenTable's incredibly strong
position in NA. This marks the second high-profile integration
within two weeks, the first being with Google+ and Zagat. These
partnerships reinforce our thesis that NA competition is
immaterial to performance and barrer's to entry in NA remain
strong. Both of these partnerships are consumer facing, which
should drive reservation revenue, OpenTable's highest-margin
product."

Shares of Facebook (NASDAQ:
FB
) also caught a bid, moving just slightly higher. Reports of
Facebook integration with iOS6 have been floating around for
awhile, but the official announcement may have served to seal the
deal. Perhaps most interesting, Apple unveiled that its App Store
will have integration with Facebook, allowing consumers to like
apps. Shares of Facebook have since corrected on the session, as
the broader market sold off into the close.

Yelp (NASDAQ:
YELP
) will also receive iOS 6 integration. Shares were trading in the
red on the session, but moved into positive territory briefly
before correcting back.

Analyst Tom Forte at Telsey Advisory Group believes that the
announcement was significant for Yelp. Forte believes that the
OpenTable integration was less important, stating that it was
only a "slight" positive.

Currently, shares of Apple are trading near $573. Apple's
conference will continue for the rest of the week, but most of
Apple's major announcements likely occurred today.

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